Comments from Fischer:
- "Transitory" slowdown will pass in Q2
- US currently close to full employment, expects continued improvement
- "Encouraging" to see signs of wage pickup
- Fed will try to be clear about any future rate hike in an effort to limit the impact on other countries
- "Tentative" signs of rising wages should boost confidence that inflation will gradually rise toward Fed's target
- Currently close to full employment
- Lag in monetary policy means the Fed can't wait to raise rates until objectives have been fully met
Hawkish stuff from Fischer but no response in the US dollar.
